Nifty slips below the 10,000 mark

Nifty has slipped below the psychologically important mark of 10,000 in Tuesday’s morning trade. There are 41 advances and 10 declines in the Nifty 50 index, showing strong negative undertone floating in the market. Only a few metal stocks, namely, Hindalco, Vedanta and Tata Steel have been gaining momentum in the index.
 
Among the top losers, Bharti Airtel, BPCL and IOC have been losing more than 3%. Around 20 stocks in the index have been trading lower by more than 1%.
 
Securities and Exchange Board of India (SEBI) has asked the mainstream bourses, NSE and BSE, to move 331 shell company stocks to Stage VI of GSM under which trading in these identified securities shall be permitted only once a month under the trade-to-trade category.
 
The markets may have moved into the negative zone on account of SEBI’s surprising move of suspending trading in 331 securities. In the broader markets, the BSE Mid-Cap index was trading at the 15,466 level, down by 0.86% and the BSE Small-Cap index was trading at the 15,955 level, down by 0.95%.